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Michael Glimcher, Glimcher Realty Trust CEO and chairman, on how to bring people into malls instead of shopping online.
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You Sundar thank you well you can buy almost anything online these days so -- incentivized that the people.
To -- -- mole glimcher realty trust which owns and manages shopping malls is trying to make them Internet proof by having -- do mole.
They're just retail join me now is the CEO and chairman of glimcher realty.
Michael glimcher himself Michael OK it's a tough deal -- -- Brick and mortars stalls because let's face it we can go on line we don't have to drive down to the -- battle the traffic spend the gas money.
Trying to find a parking -- we can just with -- click.
Do our shopping how do you counteract that.
War.
Thanks for having me on Ashley and it's interstate -- sales are all time high and our industry as well as occupancy of 95% and and sales moving upward and onward.
We try to do as we don't think about e-commerce has -- electronic commerce but everywhere accomplished people to shop at home they can shop at the mall.
But it is it it's a tactile experience most of our malls are one of the top three tourist destinations in the market which they said.
And so we try to create a lot of different uses and T have more frequency of visits with double the -- restaurants we have five years ago within the portfolio.
Yoga studios.
Terror salons and others are overseas is that we'll draw people in on -- daily and weekly basis how do you stop people from coming in and testing these products as you say at tactile experience that thing going home and and buying them cheaper on the Internet.
What you know -- -- saying you to -- electronics category do you think of apple and you think most he would file online.
Yet they're the highest sales per square foot retailer in America you think about apparel and you could go look at it -- mangled by -- online.
But it's -- an answer gratification.
I think -- want to go out she sees the outfit she she tries it on she likes that if she wants a word out that night.
Just like you you and I go out and we play with that I had we like -- we wanna take it home that day and we want to use it instantly.
But you know apple -- a unique situation in the and -- apple lovers they just they love apple products but when you're talking about the average -- -- your average American mall.
Welcome those stores due to you've talked about it a little bit of what particular.
Do you think books and getting people to actually take that step to go into the moles we know we have.
-- Mall of America has roller -- read it there's others within -- ice skating rinks and -- what does it take a newly youth targeting in particular.
You -- our customers primarily female 88 -- 5% -- female look we think what does it take you know she can't talk to launching can help us out a glass of wine with her girlfriends on -- so again we have doubled amount of reference.
We've added yoga studios we've -- fitness centers we've got an experiential theaters with premium seating.
Everything has to be a little bit better than it was yesterday.
You know as it relates to retail I think it's about having current fashions and you know you can shop online you can buy commodity can buy yourself a new pair of khakis if you know what size you work.
But I don't if you are if -- ever gone out shopping heard you've seen groups of ladies shopping they make China and twenty addresses only by one they may try -- -- for purses for example without.
Never heard of but I have witnessed an -- by oneself it's part it's part of -- experience.
Do you think the advent of as seen by the heading towards a sales tax on line -- helped to really even the playing failed.
Well look you know we believe strongly in the main for main street fairness act obviously.
When Internet first started it was a new technology -- and it wanted to get off the ground at this point obviously.
It's very much competitive -- having main street -- pass.
And having a level playing field for online is where as well as -- is corporate some mortar retailers we think makes a lot of sense.
It just evens the playing field but.
Again the retailers and our properties they have to always do a better job we have to do a better job of creating your great experience so that we can continue to be one of the top tourist destinations -- each of the markets I was sure.
The place to finish Michael Glenn just thank you so much who really appreciate it it's and they these accusations about Linda.
